Portfolio Maturity Assessments

PM Solutions Australia is certified P3M3® Consulting Partner.

Our AXELOS certification allows our experienced P3M3® consultants to provide quality assured assessment of the process employed, the competencies of people, the tools deployed and the management information used to manage and deliver improvements, allowing organisations to better determine their strengths and weaknesses in delivering change.

What are portfolio maturity assessments and how do they work?

P3M3® is a management maturity model looking across an organisation at how it delivers its projects, programs and portfolio(s). P3M3® is unique in that it looks at the whole system and not just at the processes. The P3M3® assessment can be tailored to meet the needs of the organisation and can be deployed in multiple ways. P3M3® provides three maturity models that can be used separately to focus on specific areas of the business or more generally to help organisations assess the relationship between their portfolios, programs and projects. The P3M3® maturity model sub-models are:

  • Portfolio Management (PfM3);
  • Program Management (PgM3); and
  • Project Management (PjM3)

What are the P3M3 maturity assessment models?

The P3M3 maturity model sub-models are:

  • Portfolio Management (PfM3)
  • Program Management (PgM3)
  • Project Management (PjM3)

Each sub-model is further broken down into seven perspectives:

  • Organisational governance
  • Management control
  • Benefits management
  • Risk management
  • Stakeholder management
  • Finance management
  • Resource management

The P3M3 model has five maturity levels:

  • Level 1: awareness
  • Level 2: repeatable
  • Level 3: defined
  • Level 4: managed
  • Level 5: optimised

P3M3® allows an assessment of the process employed, the competencies of people, the tools deployed and the management information used to manage and deliver improvements. This allows organisations to determine their strengths and weaknesses in delivering change. There are no inter-dependencies between the models so an assessment may be against one, two or all of the sub-models. It is possible for an organisation to be better at program management than it is at project management.

What are the Benefits of maturity assessments?

As with any investment in an improvement initiative, increasing the maturity rating should not be seen as a justification in itself. It is about improved capability to deliver to strategic objectives, reduce costs and increase success rates. Every investment requires a justifiable return on investment (ROI). The P3M3® approach benefits the organisation by providing a common, integrated vision of improvement. This integrated approach leads to decreased costs and improvements in on – time delivery, productivity, and quality and customer satisfaction. A key benefit of using P3M3® is that it provides a publicly available set of independent benchmarks. These are not proprietary or exclusive and may be used by all organisations, irrespective of their methodology or internal delivery frameworks. The general benefits that can be gained from using P3M3® include:

  • Helping organisations to decide what maturity level they need to achieve to meet their business needs
  • Creating a reliable P3M (portfolio, program and project management) capability baseline against which improvements in P3M capability performance can be objectively measured
  • Key element of an integrated assurance strategy as it assesses the organisations capability
  • Recognising achievements from previous investment in capability improvement
  • Comparing the organisation against accepted maturity levels that can be certified
  • Enabling comparison of capabilities between organisations
  • Assuring quality through the use of PM Solutions Australia, as a certified P3M3®Consulting Partner
  • Providing plans for continual progression
  • Focusing on the organisation’s maturity, not specific initiatives (you can run good programs and projects without having high levels of maturity, but not consistently)
  • Providing an objective assessment of strengths and weaknesses
  • Justifying investment in P3M infrastructure

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